HTG Molecular Diagnostics (HTGM) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

HTG Molecular Diagnostics (NASDAQ:HTGM) announced its quarterly earnings results on Thursday. The medical research company reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.01, Morningstar.com reports. The business had revenue of $4.71 million during the quarter, compared to analysts’ expectations of $5.14 million. HTG Molecular Diagnostics had a negative return on equity of 132.67% and a negative net margin of 81.10%. HTG Molecular Diagnostics updated its FY 2018 guidance to EPS.

HTGM traded down $0.49 on Friday, hitting $3.65. The company had a trading volume of 610,059 shares, compared to its average volume of 382,269. HTG Molecular Diagnostics has a 1-year low of $1.71 and a 1-year high of $5.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 9.29 and a current ratio of 9.50. The firm has a market cap of $118.23 million, a P/E ratio of -2.04 and a beta of 2.03.

Several brokerages recently commented on HTGM. Cantor Fitzgerald reissued a “buy” rating and issued a $7.00 price target on shares of HTG Molecular Diagnostics in a research note on Friday. HC Wainwright set a $7.00 price target on HTG Molecular Diagnostics and gave the company a “buy” rating in a research note on Wednesday, October 24th. ValuEngine cut HTG Molecular Diagnostics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, Zacks Investment Research cut HTG Molecular Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. HTG Molecular Diagnostics presently has an average rating of “Buy” and a consensus price target of $6.25.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Spark Investment Management LLC acquired a new stake in HTG Molecular Diagnostics in the 2nd quarter worth approximately $663,000. FMR LLC lifted its holdings in HTG Molecular Diagnostics by 0.8% in the 2nd quarter. FMR LLC now owns 3,488,045 shares of the medical research company’s stock worth $11,371,000 after purchasing an additional 27,700 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in HTG Molecular Diagnostics in the 2nd quarter worth approximately $5,506,000. Putnam Investments LLC lifted its holdings in HTG Molecular Diagnostics by 31.4% in the 2nd quarter. Putnam Investments LLC now owns 1,387,883 shares of the medical research company’s stock worth $4,524,000 after purchasing an additional 331,690 shares during the last quarter. Finally, Granahan Investment Management Inc. MA lifted its holdings in HTG Molecular Diagnostics by 14.1% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 915,449 shares of the medical research company’s stock worth $2,984,000 after purchasing an additional 112,928 shares during the last quarter. Hedge funds and other institutional investors own 50.55% of the company’s stock.

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HTG Molecular Diagnostics Company Profile

HTG Molecular Diagnostics, Inc develops and markets products and services based on proprietary technology that facilitates the routine use of targeted molecular profiling. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets.

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Earnings History for HTG Molecular Diagnostics (NASDAQ:HTGM)

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